Multiple Choice
Why did European nations begin to default on repaying their debts to the United States in the late 1920s?
A) They had begun massive rearmament programs.
B) They were experiencing severe inflation.
C) They were pouring massive sums into social welfare programs.
D) They depended on reparations payments from Germany to pay their loans and, since American banks had stopped making loans to Germany, those reparations payments ceased.
Correct Answer:
Verified
Correct Answer:
Verified
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